RA Economy Minister Tigran Davtyan has said that Armenia will launch the construction of North-South transport corridor in yearend, with the second tranche of the project already ratified by the parliament.

On June 23, Armenian parliament ratified a credit agreement between Armenian government and Asian Development Bank, envisaging allocation of the second tranche of USD 170 million for North-South corridor construction. Total cost of the program is USD 500 million.

The Corridor will allow Armenia to become a transit state in regional transportation industry, as well as join the Black Sea circular highway.